Stamp Duty Tax Liability

You should think long and hard over claims by companies and or individuals that advise that they can avoid or mitigate your stamp duty tax liability.

Peter Westbrook property partner says you should think long and hard over claims by companies and or individuals that advise that they can avoid or mitigate your stamp duty tax liability. A high-flying City banker has lost a legal battle with the taxman over a complex avoidance scheme designed to wipe out most of the stamp duty owed on the purchase of his £2.5 million London townhouse.

Edward Allchin will have to pay almost £90,000 in stamp duty after a tribunal ruled that a highly technical tax arrangement did not qualify for the relief that it sought.

The decision was a boost to HM Revenue & Customs, with about 190 users of similar schemes now having to repay about £7million in stamp duty.

For the full article visit The Times website here.